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Pyramid scheme plays on 'Britishness' to ensnare China investors

Hedge funds in foreign currencies were booking annual losses of one per cent to 2 per cent on average, according to data tracker Hedge Fund Research.


AS David Byrne ate breakfast at the Tongli Lakeview Hotel outside Shanghai one Sunday in April, an angry customer was waiting for him.

Mr Byrne, 52, is a British businessman who sells investment products. The previous day, he had introduced himself to a roomful of...

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